“People will say a lot of things about me when I die, but I am determined that ‘He died rich’ will not be one of them.” —Bill Gates
Those few of us who are not billionaires may be cynical when we hear of a rich person giving away huge sums of money to favorite causes. Knee-jerk cynics quip, “Tax write-off!” Or, we might say sarcastically, “Yeah, if I had a billion dollars, I would gladly give most all of it away and live off just $10 million for me and mine.”
Microsoft co-founder Bill Gates, once the world’s richest man, has pledged to give away nearly all his wealth by 2045. During the first 25 years of the Gates Foundation, it gave away more than $100 billion to eradicate malaria, polio and create vaccines to prevent rotavirus infections.
Where did Gates get such an idea? “I read an 1889 essay by Andrew Carnegie in which he wrote, ‘The man who dies rich dies disgraced’.” Carnegie, a century ago, gave away hundreds of millions, mainly to establish free libraries.
Gates also credits his mother whose faith had taught her, “To whom much is given, much is expected.”
He credits his father as a visionary and a giant. Each year, the Gates Foundation presents the Bill Sr. Award to recognize the employee who most exemplifies the noble values of Gates Sr.
Gates credits Warren Buffett who has donated over $40 billion since 2006.
A “big hero” to Gates is Chuck Feeney and his philosophy of “giving while living.”
Gates plans to leave less than 1% of his wealth to his three children: “[Inheriting a fortune] wouldn’t be a favor to them. They had great upbringing and education. I want to give them a chance to have their own earnings and success.”
